Foreclosure News

• Homeowners Participating in Short Sales Beware: The Tax Man Cometh
  Did you know that debt forgiven during a short sale or debt-forgiveness program is subject to tax (since the IRS considers the amount of the forgiven debt as income)? Most people don’t – and that could result in significant financial stress come tax time. […]
  John Evan Miller
• Cash-Out Refinancing Still Not Popular with Homeowners Today, Says Freddie Mac
  Today, Freddie Mac, one of the two largest owners of mortgages in the United States (along with sister company Fannie Mae), reported that homeowners who opted to take cash out when refinancing their homes during the fourth quarter of 2011 was at the lowest point in the 26 years the company has been keeping up with those numbers. […]
  John Evan Miller
• Investing in Foreclosure Soars as Government-Led Rental Program Nears
  Investors have been heavily interested in buying foreclosure properties in stricken real estate markets across the country since the foreclosure crisis began in 2007, but lately investing in foreclosures has picked up considerably due to the eminent implementation of a federal foreclosure-into-rental program. […]
  John Evan Miller